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July 25, 2014
11:29 EDTNKE, SKX, DECK, UADeckers Outdoor climbs higher after Q1 results, increased FY outlook
Shares of footwear company Deckers Outdoor (DECK) are climbing higher after the company reported first quarter earnings per share and revenue that exceeded analysts' consensus along with an increased FY15 EPS and revenue outlook. WHAT'S NEW: Deckers said its Q1 loss per share was $1.07, which was better than analysts' consensus of a $1.28 per share loss. Revenue for the quarter was $211.5M, exceeding analysts' consensus estimates of $192.01M. The company's direct-to-consumer comparable sales were up 10% in Q1 and UGG brand net sales for the quarter were up 22.8% to $123.3M. Teva brand net sales in Q1 were up 25.7% to $39.3M and its Sanuk brand net sales were up 19.6% to $36M. Deckers' Q1 combined net sales of the company's other brands increased 54.5% to $12.9M. Sales for the global retail store business increased 29.4% to $42M. Looking ahead, Deckers now expects fiscal year 2015 EPS to increase approximately 14.5% from previous guidance of up 13.5% and expects FY15 revenues to increase about 14%, up from the previous guidance of 13%. The consensus estimate for EPS and revenue are $4.69 and $1.8B, respectively. Deckers now expects FY15 UGG brand revenues to increase approximately 12% over the prior year from the previous guidance of 11% and predicts FY15 Teva brand revenues will increase approximately 11% over the prior year. The company expects FY15 Sanuk brand revenues to increase approximately 15% compared to the prior year. Combined FY15 net sales of the company's other brands are expected to be approximately $82M. The company's guidance assumes a gross profit margin of approximately 49%, an operating margin of approximately 13%. and an effective tax rate of about 29%. WHAT'S NOTABLE: The company expects second quarter EPS of approximately 98c against analysts' estimates of $1.13 and sees revenues for the quarter up about 18% from the year ago period against estimates of $441.17M. ANALYST REACTION: Jefferies analyst Randal Konlk upgraded Deckers to Buy from Hold after the firm said it has more conviction of the company's margin expansion potential in FY15. The analyst believes that the company's market undervaluing the sequential upward potential at the moment from new product reveals could contribute an incremental $150M-$250M in revenue over the next 1-2 years. The firm increased its price target for Deckers to $130 from $78. ISI Group, which raised its price target on shares to $105 from $95, believes Deckers investments are beginning to drive more consistent sales results and driving it into a lifestyle brand. Citigroup also raised its price target on Deckers, to $105 from $94, following the better than anticipated Q1 results and guidance. PRICE ACTION: During late-morning trading, shares of Deckers were up $5.60 or 6.57%, to $90.84. OTHERS TO WATCH: Other running shoe makers include Nike (NKE), Under Armour (UA) and Skechers (SKX).
News For DECK;NKE;UA;SKX From The Last 14 Days
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September 24, 2015
19:14 EDTNKEOn The Fly: After Hours Movers
HIGHER AFTER EARNINGS: Jabil Circuit (JBL), up 9.6%... Nike (NKE), up 8%. ALSO HIGHER: Bellerophon Therapeutics (BLPH), up 92% after announcing "positive" data from its interim Phase 2 study of INOpulse... Reynolds American (RAI), up 1% after Bloomberg reported the company may sell $5B in assets to Japan Tobacco... Marvell (MRVL), up 5.15% after announcing a 17% global headcount reduction. LOWER AFTER EARNINGS: Pier 1 Imports (PIR), down 7.5%... Bed Bath & Beyond (BBBY), down 1%. ALSO LOWER: Internap (INAP), down 15.1% after cutting its FY15 revenue forecast... Emerge Energy Services (EMES), down 3.25% after withdrawing its distribution guidance due to "difficult market conditions."
18:00 EDTNKENike says expects greater productivity going forward
Says seeing "incredible brand strength" across Europe. Says seeing "tremendous success" globally with Jordan brand. Expects to expand Jordan brand into training. Says Q1 North American SSS rose low-single digits. Says Women's business growing faster than Men's and the overall company business. Comments from Q1 earnings conference call.
17:38 EDTNKENike says inventory levels should normalize by end of Q3
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17:37 EDTNKENike sees FY16 revenue growth in mid-single digits, consensus $32.49B
Sees FY16 gross margin expanding 50 bps. Sees FY16 tax rate 22%. Guidance from Q1 earnings conference call.
17:36 EDTNKENike sees Q2 revenue growth in mid-single digits, consensus $7.69B
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16:19 EDTNKENike CEO says FY16 'off to a great start'
"Fiscal 2016 is off to a great start," said Mark Parker, President and CEO of NIKE, Inc. "Our relentless pace of growth is driven by our proven strategy of putting the consumer first, obsessing innovation in everything we do and leveraging our powerful portfolio. We're well-positioned to continue to deliver long-term growth that is both sustainable and profitable."
16:18 EDTNKENike repurchased 5.5M shares in Q1
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16:17 EDTNKENike up about 5% following Q1 results
16:17 EDTNKENike trades to fresh life high after results
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16:17 EDTNKENike reports Q1 inventories $4.4B, up 10% YoY
Inventories for NIKE, Inc. were $4.4B, up 10% from August 31, 2014, driven primarily by an 8 percent increase in NIKE Brand wholesale unit inventories. Increases in average product cost per unit, as well as higher inventories associated with growth in DTC, were largely offset by changes in foreign currency rates.
16:16 EDTNKENike reports Q1 gross margin expanded 90 basis points to 47.5%
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16:15 EDTNKENike reports Q1 worldwide futures orders up 9%, up 17% ex-currency changes
Inventories as of August 31, 2015 up 10%.
16:15 EDTNKENike reports Q1 EPS $1.34, consensus $1.19
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15:00 EDTNKENotable companies reporting after market close
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13:27 EDTNKENike September 114 weekly straddle priced for 4.2% movement into Q1
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12:32 EDTNKEEarnings Watch: Analysts positive on Nike ahead of Q1 earnings report
Nike (NKE) is expected to report first quarter earnings after the bell on Thursday, September 24, with a conference call scheduled for 5:00 pm ET. Nike sells athletic footwear, apparel, equipment and accessories worldwide. EXPECTATIONS: Analysts are looking for earnings per share of $1.19 on revenue of $8.22B. The consensus range is $1.14-$1.26 for EPS and $8.13B-$8.33B for revenue. In its last earnings report, Nike forecast Q1 revenue growth in the low single digits. LAST QUARTER: The company reported fourth quarter EPS of 98c and revenue of $7.8B, beating the consensus expectation of 83c and $7.69B, respectively. Nike reported a Q4 gross margin of 46.2%, which was up 60 basis points. The company also reported worldwide futures orders up 2% including currency changes and up 13% excluding currency changes. Looking ahead, Nike forecast fiscal year 2016 revenue growth in the mid-single digits, and said it expected Q1 and FY16 gross margin to increase by 50bps. On its last earnings conference call, Nike said it was confident that it would be able to keep "moving margins forward." The company said it plans to deliver mid-teens EPS growth over time. NEWS: Phil Knight announced plans to step down as the company's chairman on June 30, and recommended president and Chief Executive Officer Mark Parker take over the role. Knight said he would transfer most of his stock to a limited liability company named Swoosh LLC, to be managed by himself, Parker and other Nike executives. The move that will help "maintain Nike's corporate governance," the company said. Under terms agreed upon in June, Nike will pay $2.4M to customers who purchased a FuelBand product anytime between January 19, 2012 and June 17, 2015 to settle a class action suit leveled against itself and Apple (AAPL) in 2013, AppleInsider reported in July. STREET RESEARCH: On the day after its last earnings report, Nike's price target was raised at Piper Jaffray, Nomura, Macquarie, Goldman, Deustche Bank and Baird. On July 28, Jefferies raised its price target for Nike to $128 to reflect greater likelihood of the Trans-Pacific Partnership becoming law, which could benefit Nike's margins over time. In August, Telsey Advisory upgraded Nike to Outperform from Market Perform and Susquehanna upgraded shares to Positive from Neutral. Stifel said on August 27 that Nike "continues to dominate" in all areas of footwear and predicted that Nike's revenue could increase by low single digits in FY16. Ahead of this afternoon's earnings report, Deutsche Bank, Susquehanna and UBS raised their price targets on Nike. Deutsche Bank expects Nike to post "modest" Q1 upside today. PRICE ACTION: Over the last three months, Nike shares are up about 7.15%. Ahead of this afternoon's report, shares are down 1.2% to $114.16.
08:00 EDTDECKDeckers Outdoor volatility flat as shares near 2-year low
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September 23, 2015
15:44 EDTDECK52-week low stocks with active options: WYNN SNCR PX MON MOS DECK
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15:31 EDTSKXSkechers to host special shareholder meeting
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07:34 EDTNKENike shares have room for further upside, says Deutsche Bank
Deutsche Bank analyst Dave Weiner says that despite the 20% year-to-date rally, shares of Nike have room for further upside. Nike's business in China is accelerating and operating margin strength should continue, Weiner tells investors in a research note. The analyst expects Nike to post "modest" Q1 upside when reporting results tomorrow after the close. He keeps a Buy rating on the stock with a $125 price target.
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